Gold production from Alacer Gold Corp., which recently merged with two other gold mining companies, advanced in the third quarter and was on target to hit the company's 400,000 ounce target, the company said Tuesday.
In the July through September period, Colorado-based Alacer produced 112,680 ounces of gold, a 9 percent increase over its second-quarter production levels. So far this year, the company, which operates in Turkey and Australia, has produced 307,343 ounces of gold.
Alacer was formed in February by the combination of Anatolia Minerals Development of Canada and Avoca Resources Ltd. of Australia.
With gold reserves currently totaling 5.5 million ounces, Alacer Gold is forecasting gold production of 600,000 ounces in 2013 and 800,000 ounces in 2015.
Shares of Alacer Gold rose 6.95 percent to $11.08.